Financial Sanctions Training - 21 May, 2.00pm – 4.00pm (Virtual via Zoom)

With financial crime increasingly under the spotlight, regulatory compliance has never been more crucial for professionals operating in the private rented sector. This specialist course provides a comprehensive and up-to-date overview of Anti-Money Laundering (AML) obligations and the evolving financial sanctions regime, specifically designed for letting agents operating in England.

Considering HMRC’s updated list of penalties and enforcement strategies, AML compliance will remain a top priority in 2025.

Letting agents must be prepared for rigorous scrutiny, with a focus on risk-based approaches, robust due diligence procedures, and internal reporting frameworks.

Moreover, from May 2025, new legislation introduced by the Office of Financial Sanctions Implementation (OFSI) will impose mandatory obligations on ALL letting agents—irrespective of the rental value of the property concerned. These changes mean that all firms must urgently review and enhance their internal compliance procedures to ensure alignment with the latest statutory requirements.

This course is essential for letting agents seeking to protect their business, clients, and reputation while remaining fully compliant with current legal duties.

Key Topics Covered:

• Overview of the UK’s AML regulatory framework

• HMRC’s supervision role and updated penalties for non-compliance

• Customer due diligence (CDD) and enhanced due diligence (EDD) requirements

• Identifying and reporting suspicious activity

• Record-keeping and internal reporting procedures

• The role of the MLRO within a letting agency

• Introduction to OFSI and financial sanctions enforcement

• New May 2025 financial sanctions obligations for all letting agents

• Practical implications and implementation strategies

• Consequences of non-compliance, including civil and criminal liabilities